BoI issues optimistic assessment of Irish housing market

19/07/2005 - 10:36:47
Bank of Ireland has issued an optimistic assessment of the Irish housing market for the remainder of this year.

In its latest property review, the bank said it expected mortgage lending to increase by €2bn this year to a total of €19bn.

It said demand for housing remained strong because of employment growth, wage increases and low interest rates.

The bank also said interest rates were likely to remain unchanged for the rest of the year, meaning Irish people could afford their mortgages.